Universal Insurance (NYSE:UVE) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE - Free Report) from a buy rating to a strong-buy rating in a report issued on Monday.

Universal Insurance Stock Performance

Shares of UVE stock traded up $0.21 during mid-day trading on Monday, hitting $22.15. 224,390 shares of the stock were exchanged, compared to its average volume of 142,359. Universal Insurance has a 12-month low of $16.50 and a 12-month high of $23.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $626.39 million, a price-to-earnings ratio of 9.00 and a beta of 0.91. The stock's fifty day simple moving average is $20.08 and its two-hundred day simple moving average is $20.70.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. The company had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. On average, analysts forecast that Universal Insurance will post 1.66 EPS for the current year.

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Universal Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.89%. This is a boost from Universal Insurance's previous quarterly dividend of $0.13. Universal Insurance's dividend payout ratio is currently 32.16%.

Insider Activity

In related news, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the sale, the director now directly owns 383,228 shares in the company, valued at $7,905,993.64. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the company's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the transaction, the chairman now directly owns 985,320 shares in the company, valued at $20,208,913.20. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

A number of large investors have recently made changes to their positions in the stock. Covestor Ltd grew its position in Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock worth $42,000 after buying an additional 1,328 shares during the period. Quarry LP boosted its stake in shares of Universal Insurance by 55.6% during the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after acquiring an additional 776 shares in the last quarter. CWM LLC grew its holdings in shares of Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider's stock worth $56,000 after acquiring an additional 723 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Universal Insurance in the 4th quarter worth approximately $103,000. Finally, Quantbot Technologies LP increased its stake in Universal Insurance by 45,981.8% in the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 5,058 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company's stock.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.